Being 1 of the 2 employees here at NWEN, I have to give a much needed props to our Board members, Committee members and volunteers. Without you, my job as the events and programs manager wouldn’t exist… as Rebecca and I would have lost our minds by now. NWEN plans to host 65 events in 2010, we know it is a big stretch, but we are geared up, ready and we have a team of committees on board to make sure our successes reach new heights in the organization.  This last month we had a wonderful turnout for events and we have over sold all of our eIQ’s thus far.

Just to share a personal experience of the strong community we have, this past week my computer and the NWEN website was infected with a virus. And without hesitation, Mike Davis (a current NWEN board member) dropped what he was doing to make sure we didn’t lose anything. With his hard work and dedication my computer and the website were saved and we didn’t miss a beat.

Our volunteers on the NWEN committees are such a strong link to making our events so successful! Helping to fuel the speakers needed for the topics that our community of entrepreneurs are requesting to hear.  We also have a number of volunteers that help out at our community events. I just have to say “Thank you!”  You really help to make my job run a lot smoother. Setting up for the breakfast and running the registration would be very difficult to do all on my own. All of the volunteers are members of NWEN, the committee and volunteering gives them the chance to get their hands dirty working first hand on events.

I have dedicated a special page on the our website to our Northwest Entrepreneur Network volunteer committee members, to see, click here. If you would like to view the hard working Board members of NWEN, click here.

Thanks again to everyone who strives to make NWEN what is it and what it will become! We look forward to seeing what 2010 brings!

-Katey Bailey

If you missed the “Plugging In” panel at this year’s Entrepreneur University, don’t worry- we can still be friends, and we’ll even share some tips on how you can maximize your networking opportunities around town.  We are happy feature this post by Josh Maher, Lunch 2.0 founder, the genius behind “Obey the Decider“, NWEN panelist and networking guru.    Check out the Thoughts on Networking post on Josh’s blog, and plenty of other juicy tidbits on his site. And if you still have an appetite for networking tips, please find another quick read on Networking 101.  Enjoy!

Thoughts on Networking

By joshmaher

I promised a follow-up to my last post, how to get plugged-in to the local network after I spoke at NWEN’s Entrepreneur University. It’s also a great follow-up to the last post about working less. So if you are looking for work, there are some things here that are good to learn. Thanks for everyone who sent feedback on their thoughts about the Seattle Startup community and networking in general. Here is half of the talk we gave at the NWEN EU event…

NWEN EU – Plugging-in

It was a lot of fun and interesting to learn from the attendees and co-panelists (Nathan Kaiser, Danielle Morrill, and Dave Schappell) what problems they had with networking and how hidden the local community appears when you are an outsider looking in.

The five points that I found most applicable were:

1. Do more favors for people in the community than you get from the community. The quality of favors you get in return will be worth it.
2. Ask for advice, not for assistance.
3. There are always going to be too many places to network and too many events to go to. Network where it is most convenient for you as you.
4. It’s ok to mix personal and business networking, it’s more fun when you are doing business with people you enjoy.
5. Use tools and system to manage who you are networking with, when you are networking, and why. Things like LinkedIn, facebook, twitter, salesforce are all great to help manage all of the connections and conversations. They are all useless if you are not using them to network with the people who will add value to what you are doing.

(6) – bring some breath mints or gum or something – bad breath sucks

A few of the follow-up conversations I had were also interesting…

I spoke with an attendee about the power of LinkedIN and how to go about using it to plan a conversation with someone either online or in-person. We used a scenario of a connecting with a Sr. Researcher at a company of interest. For my brief demonstration, I’ll say that I have a startup where I am trying to build a new touch based device that includes components of augmented reality for a medical purpose. For this I would start with a good LinkedIN search such as:

From here, I would expect to get a few folks in the Microsoft Research team locally and perhaps get some success…

With 9 results, I may not have much luck, but there isn’t too far to go to find out if I have a shot at finding the person that I’m looking for or not. To start, I’ll drill into each of these, keeping in mind that 2nd leve connections are easier to get to than 3rd level connections. So I’ll drill into Patrick Baudisch and see what I can find.

It doesn’t appear Patrick keeps his LinkedIN profile up to date which may be the case for researcher types. Business types are usually different and have a lot of information about what they do on their profile. The important thing though, is that Patrick does point us to his personal website. So let’s have a look…

ok, straight off of his website, this guy has done some projects with multi-touch at a nano level and blindsight (by the looks of the picture and name, I get the sense that he has figured out what is behind an object even though we can’t see it (kind of augmented reality). Hmm, sounds like a guy that may be up my alley, definitely worth following up with. Flipping back over to his profile, it’s time to see how easy I can make the introduction and if this guy would be interested in talking to me.

Looking back at the profile, I see that we are both connected to Scott Bright. I happen to be connected to Scott because of MindCamp (hence the need to attend a few good events, do some favors, so that you have the right connections to leverage when you need them).

In this case, I would ask Scott for some advice on how to meet people in the space that I’m looking for. If he doesn’t offer Patrick as a connection, I would ask directly about an introduction in-person or online.

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Author’s note: Thanks again to Mr. Maher for letting us re-post! Josh has great pay-it-forward karma and always minty-fresh breath.

As a sponsor of Startup Day and entrepreneur enthusiast, here’s a quick shout out and thanks to the Seattle 2.0 team and the army of volunteers who pulled off a great event!  The day was chock-full of casual conversations, and terrific speakers, who shared at least one common element: passion.  They combined healthy (if occasionally daunting) realism, with success stories, inspiration, and practical advice.   Full disclosure—while busy staffing NWEN’s display table, I couldn’t glean every ounce of advice from every speaker, so some sound-bytes and side-bars are reflected below.  That said, check out my personal top-ten take-aways:

• Caffeine’s got nothin on Cooperman. Started off the day with coffee, granola bars, and Hillel Cooperman, dropping an average of two f-bombs per minute, but great advice and anecdotes.
• Two to tango. Ksenia Oustiougova spoke candidly about the challenge of asking for support from the men in our lives (fill in “partner” of any kind and this is true.) Andy Sack’s start-up checklist includes the absolute necessity of getting buy-in and support from your significant other.
• Release early and often. Though his topic was on financing, talking with TA McCann at the event, he’s a poster-child for the importance of beta testing—lather, rinse, repeat..  Gist had something like 47 builds before the official launch. Absolutely fanatical about customer feedback. No wonder FOGs (friends of Gist) are a large and loyal audience!
• Just the stats, man. Dave Schappell’s estimate: one in 15 attendees of Startup Day will actually go try and start a business (and I’m just guessing this is a subset of the 25% of the audience who raised their hands when asked if they’d been called a workaholic before).  Talking with attendees, all of whom found the sessions valuable, a few said: I learned at this conference that I do, in fact, need to keep my day job. Good to learn that now, instead of a bank loan, two mortgages, and three awkward holidays asking friends and family for money later—this is clearly not for the faint of heart.
• People need people. We’ve all heard it before, but Alex Berg suggested a new twist on an old favorite: Jerks are “little jerk factories”; all the sudden you come to work wondering why you don’t like anyone you work with.  Every hire counts (and evidently multiplies!).
• Pick one. Ben Huh: you can be big or focused, but not both. It’s like the project management adage: you want good, cheap and fast?  Pick two.  Ben’s content-rich presentation on the stunning realities of monetizing web traffic dove-tailed nicely with Alex Castro’s talk on revenue models for Software as a Service offerings.  Good stuff.
• Fumpany. Mike Mathieu quipped that the worst insult you can get is: “That’s not a startup, it’s a feature.”  Back in my Alliance of Angels days, my colleague Kevin used to call those “fumpanies” (vs. companies).  If you’re a one-trick pony that could be considered a feature of an existing product, ask yourself what’s to stop the developer of that product adding on that bell or whistle themselves.
• The gift that keeps on giving: Check out the Startup Day twitter stream.  Lots of gems here culled from speaker presentations.
• Got a dog-sitter (thanks, Dave Schappell!).  Now it’s official.
• Got a couple offers for side jobs (thanks, Marcelo, for the pleasure of introducing Ben Huh, Ksenia Oustiougova, Alex Castro and Jonathan Sposato—extra love to the always-gracious Jonathan for suggesting that I become a voice coach—I’ll definitely keep my day job, but got a few business cards from folks wanting to pay for some voice-over work).

So if you’re in that elite group of folks who are inspired by what you heard and Startup Day, what next?  In this reporter’s opinion, sign up now for Entrepreneur University. It’s a logical next step where we’ll both inspire you with nationally recognized speakers and local heroes, and put you to work. With four interactive workshops peppered throughout the day, get your hands dirty wrestling with such challenges as “Will the dog eat the dog food? “How do I finance this puppy?”  “ How can I give my elevator pitch a lift? “ And “How can I harness social media and take the power to the people?”   Not to mention 90 minutes in which you can sit down with an investor one-on-one in our always-popular VC bistro….and/or sign up for a lunch date with experts in raising money, marketing, sales, law, and entrepreneurship.  Hope to see you there!

PS: Though we don’t plan to monetize these particular voice-overs, the NWEN board and friends will be showcasing their karaoke stylings at Hula Hula tonight at 7 PM.   Just sayin. If you read this blog post in time, don’t be shy…join us and grab the mic.

NWEN extended First Look Forum Applications until August 31. This allows for more time for your executive summaries to be reviewed before competing for the top 20 spots for screeching, then the top 12 spots for the actual First Look Forum.

Why apply?

* Every applicant will receive feedback on their executive summary. For those not selected to present at the event, you will receive a free “Think Like an Investor Workshop”
* At our inaugural March event, the 12 presenting companies enjoyed exposure to 17 different angel and VC groups
* As before, presenters will receive over 3 hours of coaching from investment professionals, and priceless advice on the fundamentals of their business.
* Reflecting on the spring event, 86% of presenters reported they met potential business advisors or investors

If you won’t be applying with us, please be sure tell a friend that could benefit from all the coaching received from this process. Go to our website to see the comments from the previous presenters and attendees feedback!

NWEN and The Zino Society are now offering reciprocal discounts to any entrepreneurs applying to both forums. Whether you are an early-stage innovator primed for First Look Forum, or an investment-ready deal ideal for ZZIF, send in your application and we’ll point you in the right direction at no extra cost to you. NWEN’s screeners will let you know if you’re too far along for our opportunity, and Zino will deduct $50 from their fee. To synch up with Zino’s schedule, we are extending our Early-Bird deadline to 7/31. Looking forward to your application!!

Be sure to follow us on facebook for all of our contest updates and pictures from our events.

It’s summertime, which means blockbuster sequel season: applications are now open for First Look Forum, Part Deux! Read here for reviews of March’s event—more than a popcorn movie, it was met with critical acclaim. It is this reporter’s opinion that sadly, most sequels are inferior to the original (with the obvious exception of The Empire Strikes Back ). So we’re taking a page out of the 1980 George Lucas playbook and kicking it up a notch.

Just how are we raising the bar?
a) Streamlined application: A one-page executive summary. Every entrepreneur needs one, and we want to get you on your way with a solid template (click here).A word of warning: Mark Twain aptly noted “I didn’t have time to write you a short letter, so I wrote you a long one.” It’s no easy feat to distill your business into a page, but we’re here to help. Speaking of which…..
b) Iterative feedback: Everyone who applies will receive commentary on their one-page summary. The earlier you apply, the more iterations of feedback you can receive. Take advantage of this lather-rinse-repeat opportunity, and apply now so we can help you whip that summary into shape.
c) Transparent process: We’ve published our timeline so you know what to expect every step of the way. Other than birthday parties, we fully support a “no surprises” approach, and are here to answer any questions you may have.

As for those questions, below please find some FAQ’s. Though school is out for summer there’s a little multiple choice test if you’re getting nostalgic:

Who should apply to First Look Forum?
a) Founders who have an innovative businesses poised for growth
b) Entrepreneurs who seek feedback and coaching on their business plan from investment professionals
c) Companies who have not yet presented to the membership of angel group or a VC partnership
d) All of the above

Why would I be disqualified if I’ve presented to angels or VC’s?
a) NWEN is all about bleeding-edge, seed stage companies who need connections and coaching.
b) Angel groups and VC’s have pretty darn good processes to evaluate investment-ready opportunities.
c) We are committed to bringing our audience new opportunities that have not yet seen the light of day in the investment community (it’s the truth in advertising part of “First Look”).
d) That’s right, all of the above.

So why is this event invite-only to attend?
a) We promised our presenters we would fill the room with investors.
b) Space is limited.
c) Rebecca has spent way too much time in Belltown and just loves the velvet rope.
d) Truth in advertising is the big winner: both (a) and (b).

Bonus facts: If pressed, the author, NWEN ED Rebecca Lovell, will admit to both (a) having an inordinate trivial knowledge of Star Wars (episodes 4, 5, and 6) and (b) having a special place in her heart for Belltown.

I was reading an article about Market Research and sources you can use when on a budget. I thought this would be great to share with our community. We are all looking for ways to save, without cutting corners. You need the most information you can obtain in order to make the best judgement. By using the right tools and techniques you can excel with your research. NWEN is having an event tomorrow, July 7 on Market Research. If this is something of interest to you please be sure to check out our website and sign up. Mike Pritchard will be discussing an introduction and refresher on market research tools and techniques, relevant tools for entrepreneurs, what you can do your self and how to work with a research vendor.

We have added new events to the calendar in July. Use the extra hours of light to network, and focus your energy on important entrepreneurship skills:

Market Research eIQ Session
Tuesday, July 7, offered twice 1:00 – 3:00 pm or 3:30 – 5:30 pm, NWEN Offices, Bellevue
Entrepreneurs need to know more about their prospective customers and markets, but perceptions or lack of knowledge sometimes gets in the way. “Market research is an expensive isn’t it?” “How much can I do myself?” How do I make sure the research gives me the answers I need?” Join Mike Pritchard as he shares cost effective tips for success.
Cost: $34 for members, $49 for non-members
Register for the 1:00-3:00 Session
Register for the 3:30-5:30 Session

Venture Breakfast: Meteor Solutions: A Love Story
Friday, July 10, 7 – 9 am, early bird networking starts at 6:30, Harbor Club, Bellevue
In a tale of two companies (and a venture capitalist), boy starts company, company goes to market, company meets venture capitalist, two companies meet, and live happily ever after. Though the story of Meteor Solutions isn’t nearly this simple, it is a Reese’s Peanut Butter Cup-style phenomenon where the whole is greater than the sum of the parts. Join us as Pete Parsons (founder of Fyreball) and Ben Straley (founder of Reach Machines) share some lessons learned from the market, the joy of being nimble and market-sensing, and the power of relationships in the community. Whether or not you agree the subsequent creation of Meteor Solutions is a classic romance, it is a fascinating story.
Cost: $25 for members; $40 for non-members, $5 additional after July 6 (walk-ins additional $5 at door)
REGISTER

Pub Night – New Location for July
Wednesday, July 15, 6:00 – 8:00 pm, Del Rey, Seattle
NWEN’s pub nights have been a long-standing tradition, and a popular favorite amongst our members for the networking opportunity, great appetizers, cold drinks, and the chance for 3 minutes of fame as brave souls pitch their business to a friendly (beer-drinking) crowd. We’ve kept all these great traditions, but in July will move the party to Belltown. With free street-parking after 6, a US Bank lot just over a block away, $7 all-evening valet parking available via a neighboring restaurant, and bus routes galore, we’d love you to join us and celebrate.
Cost: $10 for members
REGISTER

Business Plan Writing Workshop
Tuesday, July 21, 3 pm - 4:30 pm or 6:30 - 8pm, NWEN Offices, Bellevue
Are you struggling with writing your business plan or executive summary? If so, you’re on the right track. It’s supposed to be hard. Let us help you to make it effective as well. Learn how to use the business plan writing process tool for critically researching, evaluating, planning, and explaining your business. NWEN’s Business Plan Writing Workshop provides an overview of many of the critical questions that every entrepreneur needs to consider in the early stages of the company’s life. This popular session is led by Bryan Brewer of Business Plans Northwest.
Cost: FREE for members; $49 for non-members
Register for Afternoon Session
Register for Evening Session

Think Like An Investor eIQ Session
Wednesday, July 29, 3:30 - 5:30pm, NWEN Offices, Bellevue
If you’re seeking outside capital for your startup, you need to think like an investor when putting together your pitch. Investors seek to maximize opportunity and minimize risk; get inside their heads and anticipate their questions. This interactive session is peppered with real world examples and led by Rebecca Lovell, NWEN’s executive director.
Cost: $34 for members; $49 for non-members
REGISTER

When I’m pitching my Web site, I’m often asked what my “cash-burn rate” is. That’s startup speak for: “How long can you keep going until you run out of money?”

I’m going to take advantage of this blog to provide periodic updates on FLF, the NWEN replacement for ESIF. Since I was involved in ESIF for years, and am now involved in FLF, it seems appropriate that I outline some of the differences and similarities between the two events.

ESIF was an investment forum, not too different from the ones sponsored by AoA, WTIA, Zeno, Kiertsu Forum, and others. If you’ve been to one, you know the drill–investors on one side, entrepreneurs with racing heartrates on the other, pitching for bucks.

Some great companies pitched at ESIF over the years, and many got a real boost (funding, board members, key advisors) from the event. Over the years we’ve talked to enterepreneurs who presented about what value they received, and we heard a consistent story: Even if they didn’t get a check from ESIF (and let’s face it, it’s only one pitch), they were a stronger company for having gone through the process. Particularly a lot of companies like the coaching. After the fact. Before the fact most of them either don’t want it or don’t think they need it. After the fact they realize they are more prepared to pitch any investor, any time.

We’ve had some fun the last few years changing things up at ESIF in response to feedback from entrepeneurs and investors, and it clearly improved on all the key metrics: attendance by investors, quality of the companies, fun factor, and others. But let’s face it: there’s a lot of places around town for an entrepreneur to pitch a company, and it’s hard for any forum like this to show fresh faces. Deals that everyone hasn’t already seen.

So in response to that, we changed gears big time this year. Instead of YAIF (yet another investment forum) we decided to drop the whole investment angle, and focus on just finding companies that no one (well, almost no one) has seen and put them in a room with some folks who might want to meet them and help them.

The good news is we have a full slate of applicants with cool new ideas that will go through screeching (as we call it–screening and coaching) shortly. They will be winnowed down from 20 companies to 12 that will actually present at the event on March 24. Each company gets two experienced people–primarily investors and entrepreneurs–who stay with them for the full screeching experience. This addresses the problem some people reported in the Old Days of having one set of coaches tell them to make a change, then the next set of coaches tell them to revert back to what they had before. Ugh. Goes to show this isn’t an exact science.

I’ll post more as the show unfolds.

Cheers,

John Browne, Co-chair